HomeMy WebLinkAbout2000 06-19 CCM Work Session with Financial Commission MINUTES OF THE PROCEEDINGS OF THE CITY COUNCIL
OF THE CITY OF BROOKLYN CENTER IN THE COUNTY
OF HENNEPIN AND THE STATE OF MINNESOTA
GENERAL WORK SESSION
MEETING WITH FINANCIAL COMMISSION
JUNE 19, 2000
CITY HALL - COUNCIL CHAMBERS
CALL TO ORDER
The Brooklyn Center City Council met for a general work session with the Financial Commission
at Brooklyn Center City Hall in the Council Chambers and was called to order by Mayor Myrna
Kragness at 7:00 p.m.
ROLL CALL
Mayor Myrna Kragness, Councilmembers Debra Hilstrom, Kay Lasman, Ed Nelson, and Robert
Peppe. Also present: City Manager Michael J. McCauley, Assistant City Manager Jane Chambers,
and Finance Director Charlie Hansen.
Others present were Financial Commission Chair Donn Escher, and Financial Commissioners Jay
Hruska, Mark Nemec, Jerald Blarney, Timothy Elftmann and Gavin Wilkinson.
Also present were Clifford Hoffman and Michelle Henricks of Deloitte & Touche.
DISCUSSION OF 1999 FINANCIAL AUDIT
Auditor Clifford Hoffman presented the City of Brooklyn Center Selected Financial Information
Report, dated December 31, 1999. He reviewed the report in light of new GASBY requirements for
reporting of fund balances.
Mr. Hoffman noted that the report showed a 7% increase in property values within the community
in 1999. He also noted that the City's financial condition was excellent, and showed capacity for
future projects.
New GASBY reporting requirements will require that the City place a value on all real property,
such as parks and streets, within the next years. The City will meet these new requirements by
placing a value on all improvements based on historical costs.
Michelle Henricks reviewed the City's CAFR (Comprehensive Annual Financial Report) for 1999.
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The audit includes 3 reports, the statement of CAFR report being free of material misstatement, and
independent auditors report which considered the City's internal controls and results of internal
compliance testing, and a management content letter with suggestions for various improvements.
Charlie Hansen reviewed the management response letter to the Auditor's suggestions.
ADJOURNMENT
The meeting adjourned at 8:20 p.m.
City Clerk Mayor%
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